HR–Test Bank–Midterm20166) What is a company's plan for how it will match its internal strengths and weaknesses withexternal opportunities and threats to maintain a competitive advantage?A Show Get answer to your question and much more 7) A course of action that a firm can pursue to achieve its strategic aims is known as a ________.A) visionB) goalC) strategyD) missionAnswer:C 8) Strategic management is best defined as the process of identifying and executing theorganization's strategic plan by matching the company's capabilities with its ________.A Get answer to your question and much more 9) All of the following are steps involved in the strategic management process EXCEPT________.D Get answer to your question and much more 10) What is the first step in the strategic management process?B Get answer to your question and much more 11) Which of the following is a simple guide used to compile relevant information abouteconomic, competitive, and political trends that may affect a firm?A) workforce requirement matrixB) environmental scan worksheetC) external resource system tableD) potential globalization networkAnswer:B What is the first step in the basic planning process?Establishing the objectives is the first step in planning. Plans are prepared with a view to achieve certain goals. Hence, establishing the objectives is an important step in the process of planning. Plans should reflect the enterprise's objectives.
What is the first step in basic planning process setting an objective evaluation comparing options controlling?Answer: TRUE Explanation: The basic management planning process consists of five steps: setting objectives, making basic planning forecasts, reviewing alternative courses of action, evaluating which options are best, and then choosing and implementing your plan planning process.
What are the 5 steps in the planning process?5 steps of the strategic planning process. Determine your strategic position.. Prioritize your objectives.. Develop a strategic plan.. Execute and manage your plan.. Review and revise the plan.. What is the first step in the basic planning process quizlet?The first step in the planning process, situational analysis, summarizes information relevant to the planning issue. In the second step, the planners should use the findings from the first step to produce ______.
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What is the first step in the basic planning process evaluating the possible alternatives implementing a course of action setting an objective comparing?
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